Also does anybody know as to who (us or Europe) is prepared better should an oil crunch occur in future. What time frame in future are we looking at.
2006-10-06 06:13:31 · 6 answers · asked by cmps309 1 in Business & Finance ➔ Investing
Europe doesn't have hardly any production, compared to the US. Britain, for example, has almost none.
We import a liitle more than half of our oil, but our economy is larger.
For all purposes, we would both be in a world of hurt in an oil crunch.
2006-10-06 06:19:18 · answer #1 · answered by dredude52 6 · 0⤊ 0⤋
The U S is far more dependent on oil, even though the produce more than Europe. Europe has much better public transportation. They actually have a working rail system. Can you imagine that? Rail is 10 more efficient than auto transportation and 40 times more efficient than air trasportaion. France has much larger portion of power generation based on nuclear about 40% if I recall correctly.
Gasoline is heavily taxed in Europe so Europeans tend to not use nearly so much. Very few SUV's there.
If there is a crunch, the U S might very well collapse from the crunch. Do you have any idea how many people commute to work each day over 50 miles each way. It is millions.
2006-10-06 14:19:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The U.S. is probably more dependent on oil for a lot of reasons, mostly lifestyle ones. so any oil crunch would hurt.
One should really look globally though as economies have gone that way.
The US has enough domestic production that if other world sources were to stop. essential services could still happen. Countries who depend on others for their product would (exporters) would probably be hurt more in the long run as they would not be able to get their product out. The US currently imports more than they export so the US could ramp up production of items it used to make but now import.
This is strictly my opinion
2006-10-06 13:28:37 · answer #3 · answered by M P 3 · 0⤊ 0⤋
The U.S. by far. Europe has a much better public transportation system and less people rely on their cars there vs. the U.S. In addition, everything is much closer together there compared to here so that reduces their need to drive a lot. That, plus their cars are much more fuel-efficient than our gas-guzzling SUVs.
2006-10-06 13:16:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋
the US and i can not wait until the oil drops to 10 bucks all these big oil companies soaking us, its payback time
2006-10-06 18:00:42 · answer #5 · answered by canadianphatkid 3 · 0⤊ 0⤋
US
2006-10-06 13:21:16 · answer #6 · answered by xportuguesax 3 · 0⤊ 0⤋